Google Acquires NFC Specialist Zetawire For "Walleto" E-Wallet Tech

Google has acquired a little-known Canadian startup, Zetawire, apparently aiming to use the company's NFC technologies for their mobile wallet ambitions. Relatively little is known about Zetawire, beyond a patent application for an electronic wallet that would work with "a payment system, an advertising system, and an identity management system" and a trademark for the branding "Walleto".

Zetawire didn't actually have a chance to launch any products or services, and the terms of the acquisition are so-far unknown. Still, the technology – which also includes mobile coupons, banking, and other NFC applications – fits in well with Google's stated goals for near-field communications. In its first iteration, the Nexus S will only support reading NFC tags, but future updates should open up two-way communications and tag-writing.

[via Android Community]